Clear Channel Outdoor third quarter 2023 results can be summarized as US billboards down, everything else up. Here are the results of the Clear Channel Outdoor 3Q 23 earnings release, Clear Channel Outdoor 3Q 23 investor presentation and conference call. Consolidated third quarter revenue grew 2.7% to $517 million. US […]
Bank lending standards continue to tighten according the the October 2023 Federal Reserve Bank Survey of Bank Loan Officers. Some of the highlights. Commercial and industrial loan standards have tightened for 5 consecutive quarters as has commercial and industrial loan pricing. 35% of credit officers said that they have tightened […]
NEW YORK, Nov. 7, 2023 /PRNewswire/ — OUTFRONT Media Inc. (NYSE: OUT) today announced that two of its wholly-owned subsidiaries priced a private offering of $450.0 million in aggregate principal amount of 7.375% Senior Secured Notes due 2031 (the “notes”). The notes will be sold at an issue price of 100.0% of […]
Local is up but national and transit are down so OUTFRONT is treading water. That’s a summary of the OUTFRONT 3Q 23 earnings release, OUTFRONT 3Q 23 earnings presentation and conference call. Revenue increased by 0.2% to $455 million. Transit revenue was down 8.6%. Billboard revenues were up 2.6%. National […]
“The operating environment remained choppy in Q3 with customers continuing to take a cautious approach to their campaigns particularly on the national side,” was how Sean Reilly opened the Lamar 3Q earnings conference call. Here are the results of the Lamar 3Q 23 earnings release, Lamar 3Q 23 10Q and […]
Clear Channel Outdoor closed the sale of its business in France and retained investment bankers Moelis and Co and Deutsche Bank Securities to assist it in selling Europe North (e.g. UK and Scandinavia). It will also conduct a strategic review of the Latin American business (Mexico, Brazil, Chile, Peru), investor […]
Not a pretty picture for out of home stocks. All the public out of home companies failed to beat the market during the past three months due to fears about a recession impacting ad spending. The S&P 500 declined 10%. Lamar was off 17%, Boston Omaha down 27%, Clear […]
Billboard Insider asked SignValue’s Paul Wright to talk about OUTFRONT’s Canadian sale and new equity investors. Wright also talked about the return of airport traffic which is good news for OUTFRONT, JCDecaux and Clear Channel Outdoor. What’s your take on the OUTFRONT Canada sale? We like OUTFRONT’s sale of their […]
OUTFRONT shares increased 8% this week following news that the OUTFRONT is selling OUTFRONT Canada to Bell Media for $300 million US. Three things about the sale. Stock purchase The transaction is a purchase of the shares of OUTFRONT Canada, not a purchase of assets. This carries more risk for […]
Earlier this year Arte Moreno, Ernie Garcia and Verde Investments were part of a group that purchased 7.3% of the stock of Clear Channel Outdoor. They are at it again. This week Garcia’s Verde Investments and Artie Moreno purchased 5.2% of OUTFRONT Media’s common stock. Billboard Insider Values the groups […]
